Right chemistry for owner occupiers

The land and purpose-built complex housing the New Zealand offices of a global company is on the market for the first time since it was built in 1985.

The two-storey commercial property, at 1-3 Argus Pl,  Hillcrest, is the New Zealand headquarters of Bayer, a brand  specialising  in the life science fields of healthcare and agriculture. 

The complex is on 7634sq m of land zoned Business Light Industry under the Auckland Council plan, and encompasses the company’s research, administrative, warehouse, and dispatch activities.

The 4876sq m  concrete-reinforced, steel-framed building complex is  being marketed for sale with vacant possession  through Bayleys commercial North Shore. Offers  close  on September 19. The property features in Bayleys’ latest Total Property  magazine.

The complex consists of 1655sq m high-stud warehouse and a 173sq m laboratory with 2870sq m of office space rated at 90 per cent NBS (new building standard). The sale includes  offices, boardroom, meeting rooms, training rooms with cafeteria, and amenities. 

 

Selling agents Laurie Burt, Ranjan Unka and Daniel Henderson said the quality of the building and the flexibility of the layout  meant it would appeal to a wide range of owner occupiers, developers or  investors.

“A unique aspect of the sale is that it will also include an extensive office fit-out, quality furniture, fixtures and fittings, and warehouse racking offering a turnkey opportunity,”  Henderson said.

“The premises could continue in its present sole-tenant structure with a large administrative area supporting the logistics activities of the adjacent warehouse, or it could be reconfigured into multiple tenancies.

“Separating the complex into smaller units would allow the utilisation of the existing fit-out and continue the office-based commercial space in its current format. Within that, there is the possibility of creating several smaller tenancies in the existing space.

“This versatility for multiple uses and tenancies is underpinned by the premises having dual vehicular access points off Argus Pl and substantial car parking, both open-air and under cover.”

 

Henderson said that repurposing the  infrastructure  could suit alternative owner occupiers including churches, medical, education, entertainment or recreational facilities.  

 

Burt said the  location on a suburban arterial route also allowed for any new tenant to install prominent naming rights signage on to two street fronts.

“Argus Pl sits directly on the boundary separating the residential portion of Hillcrest from the light industrial Porana Rd precinct, consisting predominantly of small-to-medium sized construction, automotive, engineering and retail tenancies.

“The property is being offered complete with an extensive floor-to-ceiling racking system in the warehouse — delivering a virtual turn-key operation for a logistics and stock-movement business.

“The location has easy access to the Northern Motorway and is surrounded by car parking for some 101 vehicles, including numerous covered spaces.”

 

Unka said the periphery of the property along the Sunnnybrae Rd frontage had been landscaped with large rocks and shrubs  to enhance the office’s aesthetics and ensure a smooth visual transition  between Hillcrest’s industrial and residential neighbourhoods.

“The imposing A-grade office and warehousing complex is one of the biggest commercial sites of its type in the Porana Rd periphery,  offering space in an area that has a vacancy rate of only 2.2 per cent,” he said.

“Seldom do you see such substantial properties being available in this  tightly held area. The current owner is in the process of relocating existing operations. 

“This also means that a delayed settlement is on offer, which will provide purchasers time to review options, plan their relocation into the premises, or gain any consents required before having to settle.”